Mindray(SZ:300760) Zheng Quan Ri Bao Zhi Sheng·2025-10-30 04:06Core Viewpoint - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. reported a revenue of 9.091 billion yuan for Q3 2025, marking a year-on-year increase of 1.53% and a quarter-on-quarter increase of 6.88%. However, net profit decreased by 18.69% year-on-year to 2.501 billion yuan, despite a quarter-on-quarter increase of 2.50% [1] Financial Performance - Q3 revenue reached 9.091 billion yuan, with a year-on-year growth of 1.53% and a quarter-on-quarter growth of 6.88% [1] - Net profit for Q3 was 2.501 billion yuan, down 18.69% year-on-year but up 2.50% quarter-on-quarter [1] - Operating cash flow for Q3 was 3.351 billion yuan, reflecting a year-on-year increase of 30.02% [1] - Total revenue for the first three quarters of 2025 was 25.834 billion yuan, with net profit amounting to 7.570 billion yuan [1] Business Segments - The company’s three main business segments showed positive growth, with international business accounting for an increasing share [2] - Revenue from the Life Information and Support segment was 2.952 billion yuan, up 2.60% year-on-year [2] - Minimally invasive surgery business revenue grew over 25% year-on-year, with international revenue accounting for 70% [2] - Medical imaging segment revenue was 1.689 billion yuan, with international revenue showing single-digit growth [2] - In vitro diagnostics segment revenue reached 3.634 billion yuan, with double-digit growth in international revenue [2] International Expansion - The company has deepened its internationalization strategy since 2000, establishing production bases in 14 countries (excluding the U.S.) [2] - The company aims to enhance its global supply chain and service assurance systems to strengthen market resilience [2] Investor Returns - The board approved a profit distribution plan, proposing a cash dividend of 13.50 yuan per 10 shares, totaling 1.637 billion yuan [3] - Cumulative dividends will reach 37.336 billion yuan, six times the IPO fundraising amount of 5.934 billion yuan [3] Research and Development - R&D investment for the first three quarters was 2.686 billion yuan, accounting for 10.40% of revenue [3] - The company has established twelve R&D centers globally and has filed 12,513 patent applications [3] - New products launched in Q3 include high-sensitivity cardiac troponin T kits and various advanced medical systems, supporting the transition to a "device + IT + AI" smart medical ecosystem [3] Future Strategy - The company plans to focus on "smart, streamlined, and international" strategies, nurturing high-potential businesses and enhancing local operations overseas [3]